Managing 150+ units for a few years has given me the reps needed to feel confident purchasing large assets. 

Next, $100k might fund a second position rehab loan to a local flipper but it won’t go very far toward a first position purchase money loan.

This should eliminate the homeowner (1) selling a property while remaining liable for the note (subject to), (2) tying  up his property with a “buyer” who has no intent to close unless he finds someone to pay a higher price (wholesaler), (3) paying above market rental for an option to buy that can never be exercised (4) purchasing a property from a fix n flipper who did shoddy rehab, (5) purchasing a property with nebulous legal title, (6) contracting for home improvement with a fly by night contractor who then puts a mechanics lien on the property and (7) “listing” with a wholesaler disguised as a Realtor who doesn’t put the home on MLS. 

Purchase price: $49,000 Cash invested: $3,000 We purchased 5 acres with no deed restrictions or HOA and continue to build out rentals/lots on the property.

A lot of investors prefer to use OPM (Other Peoples Money) even if they have the capital to purchase it all cash.

And I am not sure if that's because luxury property rentals just don't have the same ADR here in comparison to other markets - in a lot of other markets even as far as West Virginia in harpers ferry you can easily charge $800+ in those markets, whereas inWe haven't purchased the area in Airdna or Pricelabs as we are just looking at the data at a high level right now before we commit to that one area since we are looking at a couple of other properties too.

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We had a recent FHA quote with 3.5% down in the high 5%’s..What do you expect from the purchase and refinance markets if rates drop by 1%?

The purchase of the land to create the subdivision was all very underhanded and the developer bought it from people many of which had moved out of the state or country and we’re paying maybe $300/year in taxes on their land.

PURCHASE PRICE AND MORTGAGE: I purchased the property for $270,000 put 25% down, and it appraised for $290,000.There is a complete identical property to mine directly behind my unit and it sold about a month ago for $280,000 the same day it was listed.